HC Deb 18 February 1975 vol 886 cc368-9W
Mr. Trotter

asked the Chancellor of the Exchequer whether he will consider amending the capital gains tax by indexation or other means so as to avoid the taxing of theoretical gains caused solely by inflation.

Mr. Joel Barnett

I would refer the hon. Member to the reply I gave yesterday to a similar question from the hon. Member for Bournemouth East (Mr. Cordle).

Mr. Trotter

asked the Chancellor of the Exchequer what is his estimate of the extent to which the yield from capital gains tax in 1973–74 was derived from profits caused by inflation.

Mr. Joel Barnett

I shall let the hon. Member have a reply as soon as possible.